U.K. service co. asked lenders to waive leverage covenant on its loans. * Request was made at lender meeting in London yesterday * Co. and owner Charterhouse Capital have hired Rothschild and Allen & Overy as advisers; Houlihan Lokey and Freshfields Bruckhaus Deringer are advising senior lenders * Information from a person familiar with the matter, who asked not to be identified because the deal is private * Gary Sunderland, the head of information resources at Charterhouse, declined to comment on the waiver and appointments * NOTE: Feb. 20: Co. breaches leverage covenant at December test date after ratio rises to 7.97x * NOTE: Jun. 7: Charterhouse paid GBP13m to lower co.’s debt ratio after ratio of debt to Ebitda reached 7.8x compared with 7.5x limit
American Apparel Inc. bondholders hired Houlihan Lokey and Milbank, Tweed, Hadley & McCloy LLP as advisers in preparation for restructuring negotiations with the troubled retailer, two people familiar with the situation said.
Codere SA formally rejected a final restructuring proposal from bondholders less than three months before the Spanish gaming company’s deadline to agree to a restructuring or request full creditor protection.